Advisory Board April 5, 2024
Around 75% of hospitals are now compliant with federal price transparency regulations, largely due to an increase in potential fines and greater enforcement actions from CMS. However, it’s still unclear whether these regulations will reduce healthcare spending as originally intended.
The price transparency trifecta: 5 takeaways from our expert panel
Background
In 2021, CMS began enforcing a federal price transparency rule that requires hospitals to virtually post “a machine-readable file … that includes all standard charges (including gross charges, discounted cash prices, payer-specific negotiated charges, and de-identified minimum and maximum negotiated charges) for all hospital items and services.”
Under the rule, hospitals are also required to publicly post “discounted cash prices, payer-specific negotiated charges, and de-identified minimum and maximum...
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